Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.035%

Price spread now: MEXC against gTrade (Gains Network)+0.103%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$270as in the Price arb table

costs, in and out, $10k−$2712.711% of the position

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.103%, 7d avg +0.091%

Together, before fees−0.035%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.091%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XAU/USD	4,300.5	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	59m 13s	$268K	—	250x
Short	MEXC XAU_USDT	4,304.9	0.0112	get 0.0056% / 4h	3h 59m	$362.2M	$329.8M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now +0.103%Rate

Funding earned: $23.02
Price spread: +0.103% → +0.091%: $1.21
Slippage, 4 orders: −$260.09
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$246.86
Costs to cover: 2.711%
Break-even: 82.1 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 5 min ago; MEXC: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) virtual book (oracle venue), 5 min ago	130.01 bp	133.5 bp −$134	196.7 bp −$1,967	1352.9 bp −$135.3K	5907.8 bp −$2.95M
Sell MEXC live order book, 5 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	2.3 bp −$230	16.6 bp −$8,288

XAU on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	0.0000%	4h	4,305.5	+0.116%	$77.0M	$156.5M	150x	as long as short
SunX XAU-USDT	0.0000%	4h	4,308.7	+0.191%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USDlong	L +0.0002% / S −0.0003%	1h	4,300.5	long leg	$268K	—	250x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.162%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,304	+0.082%	$6.6M	$3.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,336.8	+0.845%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,301.3	+0.019%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,300.6	+0.003%	$289.9M	$53.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,306	+0.129%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,301.2	+0.018%	$15.0M	$55.4M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,301.3	+0.019%	$2.0M	$5.1M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,306.2	+0.133%	$72.9M	$272.1M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,304.3	+0.088%	$2K	$14K	5x	as long as short
Lighter RH XAU	+0.0064%	1h	4,306.3	+0.135%	$19.8M	$39.0M	25x	as long as short
Lighter XAU	+0.0072%	1h	4,303.7	+0.074%	$20.2M	$28.2M	25x	as long as short
Extended XAU-USD	+0.0096%	1h	4,300.6	+0.003%	$13.1M	$36.3M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,302.4	+0.045%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,301.5	+0.024%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,303.7	+0.075%	$269K	$214K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,301.1	+0.014%	$25K	$1K	20x	as long as short
Kalshi KXGOLDPERP	+0.0102%	24h	4,306.6	+0.143%	$3.6M	$45.8M	15x	as long as short
Variational Omni XAU	+0.0102%	4h	4,304.4	+0.092%	$46.7M	$29.3M	—	as long as short
MEXC XAU_USDTshort	+0.0112%	4h	4,304.9	+0.103%	$362.2M	$329.8M	1000x
Aevo XAU-PERP	+0.0112%	1h	4,304.3	+0.089%	$159K	$87	10x	as long as short
Binance XAUUSDT	+0.0115%	4h	4,304.8	+0.101%	$428.4M	$2.19B	100x	as long as short
Gate XAU_USDT	+0.0120%	4h	4,307	+0.151%	$291.7M	$415.8M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0120%	4h	4,305	+0.106%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0123%	4h	4,304	+0.081%	$29.9M	$60.6M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,304.9	+0.103%	$4.4M	$13.1M	25x	as long as short
Bullet GOLD-USD	+0.0166%	1h	4,305	+0.105%	$59K	$81K	10x	as long as short
StandX XAU-USD	+0.0189%	1h	4,306.6	+0.143%	$3.8M	$4.5M	40x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,304.7	+0.097%	$70.8M	$122.8M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0256%	8h	4,305.2	+0.110%	$171.5M	$316.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,302.5	+0.048%	$572K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0378%	1h	4,303.7	+0.075%	$135K	$869K	25x	as long as short
BloFin XAU-USDT	+0.0458%	4h	4,304.8	+0.100%	$16.6M	$4.9M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0313%	1h	4,304.7	+0.098%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0513%	4h	4,310.3	+0.228%	$2.2M	$950K	100x	as long as short
HTX XAU-USDT	+0.1186%	4h	4,313.5	+0.303%	$3.2M	$6.2M	75x	as long as short